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2022-12-31 06740059 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2021-12-31 06740059 frs-core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 06740059 frs-core:DisposalsDecreaseInProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 06740059 frs-core:ImpairmentLossProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 06740059 frs-core:ImpairmentReversalProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 06740059 frs-core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal frs-core:ListedExchangeTraded 2022-12-31 06740059 frs-core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 06740059 frs-core:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 06740059 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 06740059 frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:UnlistedNon-exchangeTraded 2021-12-31 06740059 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2021-12-31 06740059 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:OtherIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2021-12-31 06740059 frs-core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:DisposalsDecreaseInProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:ImpairmentLossProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:ImpairmentReversalProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 06740059 dpl-frs:CostSales 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales 2021-12-31 06740059 dpl-frs:CostSales 2022-12-31 06740059 dpl-frs:DistributionCosts 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses 2022-01-01 2022-12-31 06740059 frs-bus:Director1 2022-01-01 2022-12-31 06740059 frs-bus:Director1 2021-12-31 06740059 frs-bus:Director1 2022-12-31 06740059 frs-bus:Director2 2022-01-01 2022-12-31 06740059 frs-bus:Director2 2021-12-31 06740059 frs-bus:Director2 2022-12-31 06740059 1 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 1 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 1 2022-12-31 06740059 2 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 2 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 2 2022-12-31 06740059 3 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 3 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 3 2022-12-31 06740059 4 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 4 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 4 2022-12-31 06740059 5 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 5 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 5 2022-12-31 06740059 6 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 6 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 6 2022-12-31 06740059 7 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 7 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 7 2022-12-31 06740059 8 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 8 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 8 2022-12-31 06740059 9 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 9 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 9 2022-12-31 06740059 10 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 10 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 10 2022-12-31 06740059 11 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 11 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 11 2022-12-31 06740059 12 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 12 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 12 2022-12-31 06740059 13 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 13 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 13 2022-12-31 06740059 14 2022-01-01 2022-12-31 06740059 frs-core:CurrentFinancialInstruments 14 2022-12-31 06740059 frs-core:Non-currentFinancialInstruments 14 2022-12-31 06740059 15 2022-01-01 2022-12-31 06740059 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dpl-frs:Item1 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item1 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item1 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item1 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item1 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item1 2022-01-01 2022-12-31 06740059 dpl-frs:Item2 2022-01-01 2022-12-31 06740059 dpl-frs:Item2 2021-12-31 06740059 dpl-frs:Item2 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item2 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item2 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item2 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item2 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item2 2022-01-01 2022-12-31 06740059 dpl-frs:Item3 2022-01-01 2022-12-31 06740059 dpl-frs:Item3 2021-12-31 06740059 dpl-frs:Item3 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item3 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item3 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item3 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item3 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item3 2022-01-01 2022-12-31 06740059 dpl-frs:Item4 2022-01-01 2022-12-31 06740059 dpl-frs:Item4 2021-12-31 06740059 dpl-frs:Item4 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item4 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item4 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item4 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item4 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item4 2022-01-01 2022-12-31 06740059 dpl-frs:Item5 2022-01-01 2022-12-31 06740059 dpl-frs:Item5 2021-12-31 06740059 dpl-frs:Item5 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item5 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item5 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item5 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item5 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item5 2022-01-01 2022-12-31 06740059 dpl-frs:Item6 2022-01-01 2022-12-31 06740059 dpl-frs:Item6 2021-12-31 06740059 dpl-frs:Item6 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item6 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item6 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item6 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item6 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item6 2022-01-01 2022-12-31 06740059 dpl-frs:Item7 2022-01-01 2022-12-31 06740059 dpl-frs:Item7 2021-12-31 06740059 dpl-frs:Item7 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item7 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item7 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item7 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item7 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item7 2022-01-01 2022-12-31 06740059 dpl-frs:Item8 2022-01-01 2022-12-31 06740059 dpl-frs:Item8 2021-12-31 06740059 dpl-frs:Item8 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item8 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item8 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item8 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item8 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item8 2022-01-01 2022-12-31 06740059 dpl-frs:Item9 2022-01-01 2022-12-31 06740059 dpl-frs:Item9 2021-12-31 06740059 dpl-frs:Item9 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item9 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item9 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item9 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item9 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item9 2022-01-01 2022-12-31 06740059 dpl-frs:Item10 2022-01-01 2022-12-31 06740059 dpl-frs:Item10 2021-12-31 06740059 dpl-frs:Item10 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item10 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item10 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item10 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item10 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item10 2022-01-01 2022-12-31 06740059 dpl-frs:Item11 2022-01-01 2022-12-31 06740059 dpl-frs:Item11 2021-12-31 06740059 dpl-frs:Item11 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item11 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item11 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item11 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item11 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item11 2022-01-01 2022-12-31 06740059 dpl-frs:Item12 2022-01-01 2022-12-31 06740059 dpl-frs:Item12 2021-12-31 06740059 dpl-frs:Item12 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item12 2022-01-01 2022-12-31 06740059 dpl-frs:CostSales dpl-frs:Item12 2021-12-31 06740059 dpl-frs:CostSales dpl-frs:Item12 2022-12-31 06740059 dpl-frs:DistributionCosts dpl-frs:Item12 2022-01-01 2022-12-31 06740059 dpl-frs:AdministrativeExpenses dpl-frs:Item12 2022-01-01 2022-12-31 06740059 1 2022-01-01 2022-12-31 06740059 frs-countries:EnglandWales 2022-01-01 2022-12-31
Registered number: 06740059
PM Strategic Sourcing Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06740059
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 16,000 31,900
Tangible Assets 5 68,737 90,517
84,737 122,417
CURRENT ASSETS
Stocks 108,224 127,430
Debtors 6 855,158 772,924
Cash at bank and in hand 8,566 12,115
971,948 912,469
Creditors: Amounts Falling Due Within One Year 7 (572,113 ) (410,298 )
NET CURRENT ASSETS (LIABILITIES) 399,835 502,171
TOTAL ASSETS LESS CURRENT LIABILITIES 484,572 624,588
Creditors: Amounts Falling Due After More Than One Year 8 (148,675 ) (239,507 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (1,992 )
NET ASSETS 335,897 383,089
CAPITAL AND RESERVES
Called up share capital 10 190 190
Share premium account 165,841 165,841
Profit and Loss Account 169,866 217,058
SHAREHOLDERS' FUNDS 335,897 383,089
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Jackson
Director
08/03/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PM Strategic Sourcing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06740059 . The registered office is Ashton House, Margaret Street, Ashton-Under-Lyne, OL7 0SH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20%-25% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 5)
4 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 334,060
As at 31 December 2023 334,060
Amortisation
As at 1 January 2023 302,160
Provided during the period 15,900
As at 31 December 2023 318,060
Net Book Value
As at 31 December 2023 16,000
As at 1 January 2023 31,900
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 75,206 90,930 166,136
As at 31 December 2023 75,206 90,930 166,136
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 January 2023 7,520 68,099 75,619
Provided during the period 15,041 6,739 21,780
As at 31 December 2023 22,561 74,838 97,399
Net Book Value
As at 31 December 2023 52,645 16,092 68,737
As at 1 January 2023 67,686 22,831 90,517
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 52,645 67,686
52,645 67,686
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 284,291 253,846
Prepayments and accrued income 5,068 7,004
Deferred tax current asset 3,640 -
Amounts owed by group undertakings 562,159 512,074
855,158 772,924
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 10,838 10,838
Trade creditors 184,250 128,663
Bank loans and overdrafts 80,000 80,000
Corporation tax 9,857 34,346
Other taxes and social security 56,126 20,758
Other creditors 209,911 123,737
Accruals and deferred income 20,925 11,750
Directors' loan accounts 206 206
572,113 410,298
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 42,002 52,840
Bank loans 106,673 186,667
148,675 239,507
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9. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 52,840 63,678
Other Creditors 209,218 123,045
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 190 190
11. Ultimate Controlling Party
The company's ultimate controlling party is Elan Holdings Limited by virtue of its ownership of 100% of the issued share capital in the company.
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